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While fiscal conditions remain healthier than in advanced economies, emerging economies continue to be exposed to negative spillovers if global conditions were to become less favorable. This paper finds that domestic bond yields in emerging economies are heavily influenced by two international...
Persistent link: https://www.econbiz.de/10010790293
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interpreted as a proxy for unexplained fiscal discrepancies, and often associated with a lack of fiscal transparency. However … fiscal transparency. The purpose of this paper is to provide a more detailed exposition of stock-flow residuals and the … relationship with fiscal transparency, highlighting government acquisition of equities and investment fund shares and their …
Persistent link: https://www.econbiz.de/10011144613
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Poland’s macroeconomic performance was strong during the global crisis, supported by sound economic policies. The previous Flexible Credit Line (FCL) arrangements served the Polish economy well and provided adequate insurance against negative spillover risks. Executive Directors...
Persistent link: https://www.econbiz.de/10011244361
This Selected Issues paper discusses the effectiveness of monetary policy in the euro area in the context of the financial crisis, the need for special resolution regimes for financial institutions in the European Union (EU), and the proposed new EU financial stability arrangements. The paper...
Persistent link: https://www.econbiz.de/10011244389
This 2012 Article IV Consultation—Selected Issues Paper on Euro Area Policies argues that the creation of a common eurozone financial stability architecture is an immediate priority to restore the viability of the Economic and Monetary Union. The paper presents a narrative of the various...
Persistent link: https://www.econbiz.de/10011244498
This Selected Issues Paper on Belgium provides an overview of the extent of trade and financial openness of Belgium and the links to particular countries. With an export-to-GDP ratio of 79 percent, Belgium belongs to the most open economies in Europe and also globally. Its exports are highly...
Persistent link: https://www.econbiz.de/10011244815
This 2013 Article IV Consultation highlights that over the past year, Mexico has maintained macroeconomic policy continuity, while pursuing an ambitious agenda of growth-enhancing reforms. Reforms have already been approved to upgrade education, make labor markets more flexible, and foster...
Persistent link: https://www.econbiz.de/10011245002
This staff report discusses Israel’s 2009 Article IV Consultation on economic developments and policies. The economy has been shielded from the global downturn by the absence of prior housing or bank credit booms, high household savings rates, and the fact that investment goods and...
Persistent link: https://www.econbiz.de/10011245067